Senate Target Breach Hearing Could Be Coming

CUNA News Now Headlines 1/7/2014 - Provided as a courtesy and valuable service of the Credit Union National Association

Senate Banking Committee Chairman Tim Johnson (D-S.D.) said Monday that he is considering conducting a hearing to study the recent data breach at Target. CUNA has reached out both to Senate Banking and House Financial Services Committee leaders to encourage them to "fully examine the chronic issue of merchant data breaches, their impact on consumers and financial institutions." More

National Credit Union Administration field staff "will take into account a credit union's good-faith efforts to comply" with new qualified mortgage regulations as they conduct their early-stage examinations, the agency said in a supervisory letter to credit unions (14-CU-01) released Monday. More

"With the right products and rules of the road, credit unions and other financial institutions can help millions of cash-strapped Americans break free of their reliance on expensive loans...and replace a cycle of debt and dependency with one that meets borrowers' short-term needs while promoting greater financial security in the long run," National Credit Union Administration Chairman Debbie Matz wrote in a Huffington Post editorial. More

Member business lending at Michigan credit unions surged 18% through the third quarter of 2013, and state credit unions are well-positioned for future MBL growth, Dave Adams, Michigan Credit Union League president/CEO, told MiBiz.com in a Jan. 5 article. More

Worcester (Mass.) CU has formed a partnership with Worcester Technical High School and Quinsigamond Community College to provide college credits to WTHS students who complete coursework in conjunction with an internship at the credit union. More

Financial expert Jean Chatzky is inviting the greater Washington, D.C.-area to tune up its finances at the Credit Union Dollars and Sense Financial Fitness Pavilion at this weekend's NBC 4 Health and Fitness Expo. More

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